App Store spending increases by 13% to set a record. Goldman Sachs Group, Inc. supports Apple Inc. (AAPL.US) and maintains a "buy" rating.

Against the backdrop of strong performance in the App Store, Goldman Sachs Group, Inc. has reiterated its "buy" rating on Apple Inc. (AAPL.US) and maintained a target price of $266. This view is consistent with the overall sentiment of analysts - according to InvestingPro data, 21 analysts have recently raised profit expectations for Apple Inc., with target prices ranging from $175 to $300. Sensor Tower's data shows that in July 2025, Apple Inc.'s App Store spending increased by 13% year-on-year, further accelerating from June's 12%, marking the fastest month-on-month growth since November 2024. This growth trend aligns with Goldman Sachs Group, Inc.'s expectations for Apple Inc.'s service revenue in the fourth quarter of fiscal year 2025, with service revenue expected to increase by 13% year-on-year, consistent with Apple Inc.'s own performance guidance. It is worth noting that despite market concerns that users may switch to third-party payment options, the growth rate of App Store spending in the U.S. has accelerated from 12% in June to 13%. Goldman Sachs Group, Inc. estimates that the App Store accounts for 20% to 25% of Apple Inc.'s service revenue, making it the largest segment in that business sector. Recently, Apple Inc. reported revenue of $94 billion for the third quarter of fiscal year 2025, with earnings per share (EPS) of $1.57, both exceeding analyst expectations. Revenue exceeded expectations by 5.66%, and EPS exceeded expectations by 10.56%. In response, Barclays raised its target price for Apple Inc. to $180 but maintained a "underperform" rating, pointing out that iPhone and Mac sales were key drivers of the quarter's performance exceeding expectations. Bank of America Corp also raised its target price to $240, citing Apple Inc.'s performance and guidance for the quarter being above market consensus, and emphasizing strong iPhone shipments. Morgan Stanley also raised its target price to $240, maintaining a "buy" rating, as Apple Inc.'s performance in the June quarter exceeded expectations in product, services, and gross margin. However, despite the positive news, Apple Inc.'s stock price still fell slightly in after-hours trading. These latest developments reflect Apple Inc.'s current phase of steady performance growth and positive analyst sentiment.